E
A
Endowment Agreement: This Endowment Agreement, entered into between Name of Donor/s , referred to hereinafter as “Donor,” and the WVU Foundation, Inc., referred to hereinafter as
“Foundation,” a qualified charitable organization, Federal ID 55-6017181, establishes an endowment to be held, managed and used by the Foundation for the benefit of West Virginia University, referred to hereinafter as “University,” and to be named the:
Endowment Name
If this Agreement replaces a previous Agreement SEE INDEX 1 .
Contributions: The Donor has …. SEE INDEX 2 . This Endowment will be fully operational upon transfer to and acceptance by the Foundation of gifts totaling $ Gift Amount. If there is not a Letter of
Commitment in place to establish this Endowment, (the endowment minimum is already met) remove the prior sentence. Additional contributions may be made by the Donor and the Donor shall permit others to contribute to this Endowment, but all such contributions shall be subject to the terms and conditions outlined in this Agreement.
If the Donor is using a Corporate Matching Gift SEE INDEX 3 .
Endowment Purpose: This Endowment shall provide funds to describe what the Donor wants to accomplish by establishing this endowment benefiting the West Virginia University College/School of
________ . Note – Endowments can be directed to only one unit. Multi-unit endowments are not permitted (ex: B&E and Eberly).
Selection Procedure: Consistent with the Endowment Purpose, expenditures from the fund shall be determined by ______________________ and approved by the Dean/Director of the West Virginia
University College/School of __________ .
Recognition: Funds shall be awarded in the name of the Endowment Name as stated above. Where appropriate, individuals receiving support from this Endowment, as well as those in attendance at events, lectures, or other related activities sponsored by this Endowment, will be advised of the financial assistance provided by the Endowment Name as stated above in the WVU College/School of
__________. The Foundation may publicly acknowledge this gift upon proper Donor authorization.
Endowment Management: This Endowment will be identified in Foundation records as a discrete and permanent fund. The Foundation Board of Directors will manage this Endowment in accordance with state law, investment and disbursement policies established by the Foundation, and general accounting principles. The Foundation shall be entitled to reasonable compensation for services rendered in the management of the Endowment. The amount of funds from the Endowment that may be expended shall be determined in accordance with the Foundation Endowment Spend Policy and will be made available when the Endowment is fully operational.
Unfulfilled Commitments: In the event the commitment is not fulfilled, or the gift amount received

does not meet the required endowment minimum, the Foundation shall have the option to terminate this Endowment and disburse existing amounts in a manner consistent with Donor original intent. If there is not a Letter of Commitment in place to establish this Endowment, (the endowment minimum is already met) remove this entire section.
Governing Law and Policies: This Endowment is executed in and shall be governed by the laws of the
State of West Virginia. This Agreement is construed to be in accordance with Foundation policies applicable to its endowments, as amended from time to time. The effective date of this Agreement shall be the date of the last signature.
Modification: If this Endowment’s purpose ever becomes impractical or any provision of this
Agreement is found to conflict with or violate any federal or state law or regulation, and the Donor is not available for reconsideration, the Foundation’s Board of Directors shall have authority to make changes to provide a modified or otherwise appropriate alternative use which comes closest to the
Donor’s original intent.
_____________________________________
Donor Name, Donor SEE INDEX 4
_____________________________________
Donor Name if Needed, Donor
________________
Date
________________
Date
____________________________________
West Virginia University Foundation, Inc.
Cynthia L. Roth, President and CEO
__________________
Date
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Development Officer: __________________ Donor WVUF ID #: __________________
Document Control #: __________________
INDEX 1
If this Agreement replaces a previous Agreement insert this language in the Endowment
Agreement section:
This Agreement supersedes the document signed on (DO insert the date that the donor signed the document that is currently in effect) .
INDEX 2
 donated $___________ to the Foundation
 signed a Letter of Commitment dated _______ pledging $___________ to the Foundation
 donated $___________ and signed a Letter of Commitment dated _______ pledging an additional
$___________ to the Foundation
 signed a Letter of Intent dated _______ to recommend that $___________ be given to the
Foundation from a Donor Advised fund held with DO insert the name of financial institution.
 donated a gift of real estate to the Foundation on gift date from RE with the net proceeds from the sale used to fund this Endowment.

 transferred a life insurance policy to the Foundation on gift date from RE . Upon termination, the net proceeds from the policy shall to be used to fund this Endowment.

The Donor has fulfilled the endowment minimum and the fund is fully operational.
INDEX 3
If the Donor is using a Corporate Matching Gift to supplement personal gifts, include this language in the Contributions section:
The Donor also intends to apply for 1:1 (modify if other match ratio) corporate matching gift from
(insert name of matching gift company) to supplement the personal commitment to this fund resulting in a total combined gift of $_______ .
INDEX 4
If the Donor is a Corporation or Foundation modify the signature line/s to:
____________________________________
Corporation/Foundation Name, Donor
__________________
Date
Name of Person Signing Agreement, Title of Person Signing Agreement
If the Agreement is being signed by the Donor’s Representative modify the signature line/s to:
____________________________________
Donor’s Representative Name
Title of Representative
Name of Donor, Donor
__________________
Date
BEFORE SUBMITTING PAPERWORK TO THE FOUNDATION FOR SIGNATURE:
1. Development officer develops a gift idea.
2. Development officer reviews gift idea, size of the gift, potential terms of the pledge payments, etc. with appropriate unit leadership and receives approval to proceed. The appropriate logistics here will vary widely from unit to unit.
3. Development officer reviews gift idea, size of the gift, and potential terms of the pledge with the prospect. This is optional, but recommended by the Foundation as a best practice.
4. Development Officer produces draft documents (Agreement and/or Letter of Commitment; Letter of
Intent, Memorandum of Understanding) as needed.
5. Development Officer sends draft documents to appropriate Foundation vice-president for review and approval.
Foundation Major Gift Staff:
Health Sciences Units:
University Units:
Associate Vice-President, Development
Senior Vice-President for HSC Development
Assistant Vice-President, University Units
6. Are the draft documents approved by the appropriate Foundation vice-president? If not, the appropriate Foundation vice-president will return the documents to the development officer with comments and review the specific issues. The development officer should produce new draft documents as appropriate, repeating steps 2, 3, and 4 above as necessary. When the appropriate unit leadership and prospect have reviewed the changes and approved, return to step 5 above. When the documents are approved by appropriate Foundation vice-president, proceed to step 7.
7. The development officer sends one original of each document to the prospect for review and

signature. The Foundation's Authorization to Publicize a Gift Form should accompany these original documents for the prospect's signature.
8. If the prospect has any changes or edits to propose, the development officer should discuss those changes and produce new draft documents as necessary, returning to step 2 above. As necessary, the development officer should repeat steps 2 through 7 until the prospect has agreed to the terms and conditions of all the paperwork and is ready to sign.
9. The prospect signs one original of each document as needed, and returns it/them to the development officer.
AFTER THE PROSPECT HAS SIGNED THE PAPERWORK AND IT IS READY TO BE
SUBMITTED TO THE FOUNDATION:
10. The development officer completes the appropriate section of a Document Control Sheet.
11. The development officer obtains the signature(s) of the dean/unit director, and HSC Chancellor (as appropriate).
12. Are the documents accompanied with a check, or other gift paperwork? If yes, indicate this on the
Document Control Sheet and complete the appropriate gift processing paperwork. Assemble the gift processing paperwork with the documents.
13. The development officer delivers one original of each appropriate document, with all appropriate signatures and completed Document Control Sheet to the Major Gifts Program Assistant (the MGPA) at the Foundation, or her designee. If the documents are accompanied with a gift, include the check or other items and the gift processing paperwork.
14. At intake the MGPA will review the Document Control Sheet and make sure that the documents being submitted correspond to what is indicated on the Document Control Sheet. If a gift is being transmitted at that time, the MGPA will assume responsibility for processing the gift, so it is important that the gift processing paperwork is complete.
15. If there are issues with the documents or an accompanying gift or paperwork, the MGPA will contact the development officer. The development officer should correct those deficiencies within five-seven working days. The appropriate Foundation vice-president will be notified that the problem remains unresolved at ten working days.
16. The MGPA will obtain the Foundation president's signature on all appropriate documents.
17. The MGPA will return color pdfs of scanned packet to the development officer listed on the
Document Control Sheet. This will include the fully-executed Agreements and/or LOCs/LOIs; the
Document Control Sheet; any gifts that were transmitted to the Foundation concurrently with all gift paperwork; and the Publicity Release Form. This will serve as the document distribution for the unit, as well as the document to be returned to the donor for their records.
18. The MGPA will email the originating development officer that all transactions have been completed and entered correctly (new pledge, new fund established, pledge terms correct, etc.). This closes the process.